The offering of CNH750 million of 10NC5 Basel III-compliant Tier 2 bonds, which have a coupon of 5.75% per annum, was successfully priced on Wednesday 18th March.
“Natixis is very pleased to have facilitated this Groupe BPCE transaction, which represents the group’s first public issuance of offshore renminbi and follows a series of successful offerings in the Asia Pacific debt capital markets over the past few years, including a well-established Samurai series in Japan for senior and subordinated debt” said Devan Selvanathan, Head of Debt Platform, Asia Pacific.
He added, “These transactions are significant milestones in the implementation of Natixis’ New Frontier plan, serving to support the diversification of the group’s funding sources and strengthen the visibility of Groupe BPCE and Natixis in the Asia Pacific region.”
Terms and Conditions
Issuer
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BPCE SA
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Expected Issue Ratings
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Baa3 (Moody’s) / BBB (S&P) / A- (Fitch)
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Currency
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Offshore RMB (CNH)
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Issue Size
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CNH750 million
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Tenor
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10 year, non-call 5
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Coupon
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1-5-year: 5.75%
6-10 year: 1-year CNH HIBOR +124.66 bps
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Pricing Date
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18 March 2015
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Maturity Date
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26 March 2025
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Optional Redemption Date
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26 March 2020
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